Bank of America Analysts Valuation for Blockchain Technology
Bank of America analysts have made a recent prediction. Blockchain technology is likely to surpass some other well-established industry. The analyst predicts that blockchain technology could easily be a $7 billion dollar industry in a few years to come.
Although the analysts who made this prediction did not place a date on it. Anyway some experts believes it could all happen soon.
However, some also believe it could take longer since the technology is still its early stages of adoption and is currently facing some restrictions in certain countries.
However blockchain technology will bring great benefit to top organizations like Google, Amazon, IBM and Microsoft.
Further back, Bank of America research analyst Kash Rangan wrote this:
“companies like Amazon could integrate blockchain to streamline retail operation and enhance cloud computing operations”
Furthermore, Rangan pointed out that several use case of blockchain by many large corporations has been identified. He mentioned the Microsoft Azure Platform which already features Ethereum-based products.
Big Companies Could Benefit From Blockchain
He also pointed out that, several companies stand to reap great benefits from the integration of distributed ledger technology (DLT) into their existing systems or even replacing it all.
In mean time, Bank of America has been consistent with its investments. Going by this, one can conclude that the Financial institution stands to gain a lot from their predictions.